Oil refinery operators in Oklahoma, Texas and Louisiana are still reviewing the damage caused by the historic freeze and some of the largest refineries in Texas could be down for weeks of repairs.
“It’s going to be a difficult restart for refiners,” said Andy Lipow, president of energy researcher Lipow Oil Associates in Houston reported Bloomberg.
Crude oil production dropped more than 5 million barrels a day during the weather that gripped the states, leaving millions without power and more than two dozen dead.
Bloomberg reported Exxon Mobil Corp.’s Baytown and Beaumont plants, Marathon Petroleum’s Galveston Bay refinery and Total SE’s Port Arthur operation face several weeks before they can resume normal operations. It could lead to increased gasoline prices at the pumps.
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